MENTOR Brad TaciaI was an engineering manager at a Detroit auto parts manufacturer. I survived the great recession but people all around me were getting laid off. It made me realize that I didn’t have a plan B, and it left a bad taste in my mouth about the “security” of a W-2 job.

That’s why I initially started looking into real estate investing.  At first, I thought I could just increase the amount I was saving for retirement through single family rental houses.  Then I saw that I could actually replace my income with rental properties.

My plan was to buy 10 single family house rentals and replace my income in 10 years. I actually ended up buying 5 rentals over 5 years.

I remember my daughter (who was 4 at the time), kept asking me if I had to go to work the next day. I would tell her that “yes, honey, I had to go to work”, and each time I saw her face drop in disappointment. I decided then and there that I needed to accelerate my retirement plan.

I had heard about multifamily and started to look into it in early 2015. I got some training, read some books, and started analyzing deals and making offers.

I didn’t have any previous apartment experience, and I didn’t feel like I was ready, but just did it anyway.

About 8 months later, I had my first deal under contract, a 12-unit in Monroe, Michigan, about an hour from where I lived. For the down payment, I made an early withdrawal from my IRA and used a bank loan for the rest.

Almost 6 months after closing on that deal, I purchased the 12-unit next door with a partner.

4 months after that 2nd deal, I closed on a 63-unit with a different partner.

After that, I had covered my living expenses with passive income from the apartment buildings – just under 2 years after I decided to pursue multifamily.

In early 2017, I quit my job.

Since then, my life has been so much better since I have left my full time job.  I am able to get more sleep, exercise more, and do all sorts of things that I have been putting on the back burner because I didn’t have enough time.  Most importantly, I have been able to spend a lot more time with my family.  My relationship with my wife and kids has improved dramatically. I find that I’m able to think more strategically about my life.

Since replacing my income, I have not stopped apartment buildings because I enjoy the activity and it’s a great way to build generational wealth. I bought a 23-unit with yet another partner, and then I syndicated a 50-unit deal. Today I control a total of 160 units and don’t plan on stopping.

That first deal was like a giant domino for me. It was the hardest to do and of all the deals, took the longest. I didn’t really know what I was doing, I didn’t have a track record. I had to overcome a lot of obstacles.

But that first deal enabled the financial freedom I have now.

Once I did that first deal, the 2nd and 3rd one came almost automatically, and they kept getting bigger. In less than 2 years from when I started investing in multi-family apartments, I had covered my living expenses through passive income.

I’m excited about helping other people become financially free like me. That’s why I joined your coaching program. I want to help students do their first deal, because I know that once they do that first deal, the 2nd and 3rd deals will follow quickly and they will have replaced their incomes. That’s what I’m excited about.

Deal History

  • Early 2015 – Decided to pursue multifamily strategy and began research, learning, and networking
  • August 2015 – Put first 12 unit on contract
  • December 4th, 2015 (+8 months after deciding MF): Closed on first 12 unit
  • May 27th, 2016 – Closed on second 12 unit with a partner (5.5 months after first)
  • September 16th, 2016 – Closed on 63 unit with a partner (4 months after second). Replaced income – just under 2 years of deciding MF.
  • Feb 24th, 2017 – Closed on 23 unit with a partner (5 months after third)
  • May 19th, 2017 – Quit his job
  • July 21st, 2017 – closed on 50 unit syndication (5 months after fourth)
  • Total # of Units: 160 and looking for more

If you’d like to explore coaching with Brad, please click the button below to schedule a free strategy session.

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